This Week's Houston Deal Sheet
Japanese power generation company JERA Americas signed a 30K SF lease at 1000 Main in the heart of Downtown Houston.
“JERA Americas was attracted to the benefits, energy and culture of the CBD —being connected and in the heart of Houston — as well as the amenities associated with Class A office space,” Newmark Managing Director Joshua Brown said in a release. “JERA Americas’ new space will help them be well-positioned and centrally located to tap into the talent pool in Houston and surrounding areas.”
JERA is moving its U.S. headquarters from the Galleria area to a downtown office, doubling its footprint, the company said in a release. JERA plans to double its headcount over the next several years.
The same building also holds the office of Shell, which renewed its lease last year in 2021's largest office deal.
In addition to Newmark's Brown, Newmark Associate Directors Mike Fehn and Scott Lewis represented JERA Americas, a subsidiary of the Japanese energy giant JERA. Madison Marquette's Wade Bowlin and Marti Grizzle represented the landlord, Union Investment.
JERA Americas is an energy company focused on developing zero- and lower-emission energy resources around the United States and globally.
PEOPLE
Steven Terrebonne has been hired as general manager at The Moran CityCentre, the Midway development's main hotel. Terrebonne was previously area general manager at GF Hotels & Resorts and has other Houston-area and Galveston-area hotel experience.
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Griffin Partners hired Travis Covington as president of Griffin Partners Development. He was previously vice president of development at Crow Holdings Industrial.
SALES
Griffin Partners sold 18210 Beaumont Highway, a single-tenant manufacturing facility. The 67K SF facility was a build-to-suit building for North West Rubber and is still leased.
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29th Street Capital acquired Villas at Hermann Park. The 320-unit multifamily complex was built in 2000 and will be managed and leased by 29SC's management company, Haven Residential.
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BV Archway Real Estate Income Fund acquired 650 Gellhorn Drive and 18780 U.S. 59, both in Houston. The developments include a 161K SF industrial complex and a 22K SF retail project, respectively. The latter is leased to Northern Tool + Equipment. The buildings were acquired, along with two separate buildings elsewhere in Texas, for a total of more than $40M.
CONSTRUCTION AND DEVELOPMENT
R3 Wound Care and Hyperbarics, which provides wound care and hyperbaric oxygen therapy, opened two clinics in Kingwood and Pearland. The provider opened its first clinic in San Antonio in 2014 and now has seven locations in Texas.
